Land Brings £9250
One acre three roods 10.6 perches, zoned industrial A at 504 Cranford street, Papanui, was sold for £9250 to an unnamed buyer at public auction yesterday. The sale provided a striking illustration of the increase in the value of land in this area since the zoning was changed from rural to industrial A The Government valuation was £llOO when the block was zoned rural. The property was offered on account of the estate of Robert Montgomery by Sherris and Wilson, Ltd. After accepting an opening bid of £4OOO, the auctioneer (Mr Donald Wilson) took seven bids of £5OO and seven bids of £250. More than 30 persons attended the sale.
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Bibliographic details
Press, Volume CIII, Issue 30543, 11 September 1964, Page 3
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113Land Brings £9250 Press, Volume CIII, Issue 30543, 11 September 1964, Page 3
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